Questions & Answers

General Questions

Who is eligible to use TrustINdiana?

Any local unit of government (e.g. counties, municipalities, school corporations, townships, and other units of local government) as well as the State of Indiana are eligible to use TrustINdiana for their cash investment needs. To establish an account, the finance officer, as defined in IC 5-13-9-11 (c), needs to complete a registration form and deliver it to TrustINdiana Client Services. Client Services will then work with the finance officer to establish the account particulars.

Who oversees TrustINdiana?

The Office of the Indiana Treasurer of State (TOS) oversees the management of TrustINdiana. The TOS is responsible for selecting the Administrator and Investment Advisor. Currently, the TOS retains the services of Public Trust Advisors, LLC located in Denver, CO.

How is TrustINdiana different from other cash investment options?

While no investment option is devoid of risk, local government investment pools like TrustINdiana offer one of the safest investment options for local governments. The funds invested in TrustINdiana are converted into a common pool of high-grade, fixed income investment assets (e.g. securities backed by the full faith and credit of the U.S. Treasury or full guaranteed by the U.S. Government, commercial paper rated in the highest category by one rating agency, bank deposits with Indiana designated depositories) that preserve the principal of the public’s funds, remain highly-liquid, and maximize the return on the investment. The common investment assets must be permitted by the TrustINdiana investment policy and state statute. These investment assets are held by the custodian (The Bank of New York) in the name of the fund Participants. Safety is further enhanced by limiting the term of specific investments, asset class diversification, as well as the weighted average maturity of the entire portfolio to correspond conservatively with cash flow expectations and to mitigate any market timing risk.

What is the minimum requirement for investing in TrustINdiana?

There is no minimum investment amount for TrustINdiana.

What are the business hours at TrustINdiana?

The TrustINdiana offices are open Monday through Friday from 8:00 a.m. until 5:00 p.m. ET.

What transaction fees does TrustINdiana charge?

TrustINdiana does not charge any transaction fees to its Participants. However, your receiving bank may have wiring fees and/or incoming ACH fees, therefore we recommend checking with a representative at your bank to discuss the potential costs.

Next-day ACH requests must be received by 2:00 p.m. ET (24 hours in advance).

What is the difference between a Wire and an ACH?

Wires are funds transferred via the Federal Reserve Wire System and can be processed and received by your beneficiary bank on the same day if the transaction is requested prior to the 2:00 p.m. ET cut-off. ACHs (Automated Clearing House) are processed overnight and are generally available to the beneficiary bank one business day after the transaction request has been made.

What are the fees associated with Wires/ACHs?

TrustINdiana does not charge any banking fees to its Participants. However, your receiving bank may have wiring fees and/or incoming ACH fees, therefore we recommend always checking with a representative at your bank to discuss the potential costs.

Are the banking instructions different for a Wire or an ACH?

Many banking institutions have separate ABA/Routing Numbers depending on whether the transactions are being processed via Wire or ACH. Please contact your local banking representative to ensure that you are providing TrustINdiana Client Services with the appropriate account information. The instructions to send money into TrustINdiana can be found in MYACCESS.

What are the limits on the number of transactions?

TrustINdiana does not limit the number of transactions Participants can do.

Does TrustINdiana limit the number of subaccounts a Participant can have?

TrustINdiana does not limit the number of subaccounts Participants can have.

When are the TrustINdiana monthly statements delivered?

TrustINdiana monthly statements are available in the reporting section of MYACCESS on the first business day of the month.

How do I update those individuals who are authorized on my TrustINdiana account?

Please fill out the Signatory Amendment Form which is available in the forms section within MYACCESS.

How do I amend those individuals who receive account correspondence such as monthly statements or transaction confirmations?

Please fill out the Bank Amendment Form which is available in the forms section within MYACCESS.

MYACCESS

What is TrustINdiana MYACCESS?

MYACCESS is a secure, Internet-based transaction system that allows registered TrustINdiana Participants to self-manage their TrustINdiana investments. MYACCESS is available 24/7, 365 days a year.

What functions can MYACCESS perform?

MYACCESS allows Participants to make contributions, withdrawals, and transfers between subaccounts as well as to other approved TrustINdiana Participants. Users can pre-date important transactions, ensuring that they are handled reliably and avoiding unfortunate timing issues or cash access emergencies. Reporting features available in MYACCESS include access to monthly statements, transaction confirmations, and details highlighting past, present, and future dated transactions.